The spot Bitcoin exchange-traded funds (ETFs) have just hit a major inflow milestone. US investors have now splashed over $50 billion since the products went live in January 2024.
Rocketing Institutional Demand
The U.S. spot Bitcoin exchange-traded funds were one of the most successful ETF launches of all time, and have pulled in more than $50 billion in total net inflows as of Wednesday.
Data from SoSoValue shows that the 12 funds registered a cumulative net inflow of $218 million, boosting the total to $50.16 billion.
At the same time, BlackRock’s typically dominant iShares Bitcoin Trust (IBIT) has seen a total of $53 billion in total inflows, while Fidelity’s Wise Origin Bitcoin Fund (FBTC) recorded the second-highest net inflow, pulling in a total of $12.29 billion.
While the total net inflow for all 11 spot BTC ETFs is $50.16 billion, due to Grayscale’s Bitcoin Trust ETF (GBTC), which fell out of investor favor and witnessed outflows of $23.34 billion, according to Farside Investors.
Meanwhile, the iShares Bitcoin Trust recently became the first Bitcoin ETF to reach the 700,000 BTC milestone. The fund now holds over 55% of the total BTC across all spot Bitcoin funds, signaling institutions’ confidence in Bitcoin’s long-term prospects.
Bitcoin Taps New ATH Above $112,000
The price of Bitcoin smashed its May all-time high record on Wednesday after rocketing up to $112,151, according to crypto exchange Coinbase.
As of writing, the cryptocurrency changed hands at $111,214, representing a 2.4% gain on a 24-hour basis.
The sudden bullish move followed a weekslong consolidation in which BTC had been hovering within the $106,000-$110,000 range as investors worried about trade tariffs, the U.S. central bank’s continued interest rate hawkishness, and wider macroeconomic headwinds.
BTC is up approximately 20% year-to-date as capital continues to pour into the asset from an increasingly institutional class of buyers.
